1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Serjik [45]
3 years ago
11

Suppose that a monopoly firm finds that its MR is $56 for the first unit sold each day, $55 for the second unit sold each day, $

54 for the third unit sold each day, and so on. Further suppose that the first worker hired produces 5 units per day, the second 4 units per day, the third 3 units per day, and so on.
a. What is the firm’s MRP for each of the first five workers?

b. Suppose that the monopolist is subjected to rate regulation and the regulator stipulates that it must charge exactly $46 per unit for all units sold. At that price, what is the firm's MRP for each of the first five workers?

c. If the daily wage paid to workers is $194 per day, how many workers will the unregulated monopoly demand?
Business
1 answer:
OlgaM077 [116]3 years ago
6 0

Answer:

Explanation:

the file attached shows the solution to the three questions asked i hope it helps. thank you

Download docx
You might be interested in
The price of a camera decreases from $200 to $180, and in response to the price change the quantity demanded increases from 60 t
bonufazy [111]

The price of a camera decreases from $200 to $180, and in response to the price change the quantity demanded increases from 60 to 70 units. Therefore, demand for cameras in this price range is inelastic.

An economic word known as "inelasticity" describes an item or service's unchanging quantity when its price varies. When prices rise, consumers' purchasing patterns essentially stay the same, and when prices fall, those same purchasing patterns still hold true. This is known as inelastic demand. When an item or service's quantity remains constant when its price increases, it is said to be "inelastic. "When a good or service's price increases or decreases, consumers' purchasing patterns essentially stay the same. The same is true when the price of the good or service decreases. The demand for an item or service that is totally inelastic would not fluctuate regardless of price; however, no such good or service exists. Elastic contrasts with inelastic.

To learn more about inelasticity visit here;

brainly.com/question/28192591

#SPJ4

7 0
1 year ago
A factor that most influences changes in consumer demand is
aksik [14]
A factor that most influences changes in consmer demand is pice makes the most senice to me good luck
4 0
3 years ago
Read 2 more answers
Owners of a local restaurant are concerned about their ability to provide quality service as they continue to grow and attract m
Artyom0805 [142]

Answer:

Zone of service

Explanation:

Zone of service is the period where there is intensive service to be rendered to customers because of the number present per hour.  Since they can serve 162 customers per hour, one can estimate that they would be serving about a thousand customers per night within a six-hour period.  In the zone of service, every hand would usually be on deck and the tables and chairs would be fully occupied with customers making their food and drink demands.

6 0
3 years ago
The law of large numbers says that when many people are insured, the probability distribution of the losses will assume a normal
Dahasolnce [82]

Answer:

allows accurate predictions.

Explanation:

The law of large numbers  states that the larger the amount of policy holders, the probability distribution of the number of claims (losses for the insurance company) will be shaped like a normal distribution. This allows the companies to make more accurate predictions about the future number of claims.

In statistics, the law of large numbers states that as the sample size increases, the mean will be much closer to the real mean of the total population.

6 0
3 years ago
Cruelty to animals and people, destruction of property, and truancy before the age of 15:
il63 [147K]
All of the above mentioned traits are the characteristics of someone who has antisocial personality disorder. Antisocial personality disorder is also known as sociopathy. This is a mental condition where a person does not have a clear grasp between what is right and wrong and often disregard the feelings of other people.
3 0
3 years ago
Other questions:
  • The city of Hapeville announces that a new community college will be built in the city. Which is NOT a likely result of the new
    15·1 answer
  • After hurricane katrina, many states reevaluated their coastal area building requirements. these new building codes represented
    9·1 answer
  • Decreases in the money supply affect the economy indirectly because A. interest rates decrease causing planned investment to inc
    9·1 answer
  • Which answer best describes an unsubsidized federal loan?
    10·1 answer
  • When a commercial bank borrows additional reserves from another bank, it pays which interest rate?
    7·2 answers
  • Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smiths
    14·1 answer
  • During the busiest season of the year, your customer support center receives a higher call volume than planned. However, you can
    9·1 answer
  • Using these data from the comparative balance sheet of Rollaird Company, perform horizontal analysis.
    5·1 answer
  • Division of labor and specialization
    13·1 answer
  • The demand in the market for smartphones has increased causing prices to write what effect will this likely have in The demand i
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!